The U.S. South Attracts the Most People to Move to the Region, According to a New Report
The U.S. South has emerged as the most attractive region for people to move to, with the highest net migration rates in 2023, according to a new report by the National Association of Realtors. The report, which analyzed data from the U.S. Census Bureau, found that the region’s affordability and job opportunities are driving the migration trend.
Reasons Why People Moved
The report highlights that 42% of moves were driven by housing reasons, 26% by family reasons, 16% for employment reasons, and only 1% due to climate-related reasons. This indicates that people are seeking better living conditions, career opportunities, and a more affordable lifestyle in the South.
2025 U.S. Real Estate Predictions
Zillow predicts a more active market with additional inventory for 2025, giving buyers more room to negotiate. However, homebuyers should expect some turbulence with fluctuating mortgage rates, even as more homes become available. Alana Mann, President of The Statesman Group of Companies, joined LiveNOW from FOX to discuss the future of the housing market.
Top 10 States with Largest Net Migration
The top five states with the largest net migration in 2023 were Florida, Texas, North Carolina, South Carolina, and Georgia. Tennessee came in at No. 6, followed by Arizona, Alabama, and Oklahoma. Ohio rounded out the top 10, being the only state north of the Mason-Dixon Line to make the list, with a net migration of 28,718.
Where People Moved From in 2023
California, the nation’s most populous state, shed 75,423 people last year, according to the report. Hawaii (-4,261), Illinois (-32,826), Louisiana (-14,274), New York (-101,984), Oregon (-6,021), Pennsylvania (-10,408), and West Virginia (-3,964) also saw their populations fall.
Conclusion
The U.S. South’s affordability and job opportunities are driving the migration trend, with 42% of moves driven by housing reasons. The region’s growth is largely attributed to migration, with 706,266 people added via net domestic migration. As the housing market continues to evolve, it’s essential for homebuyers to stay informed about the latest trends and predictions.
FAQs
Q: What are the top 5 states with the largest net migration?
A: Florida, Texas, North Carolina, South Carolina, and Georgia.
Q: What percentage of moves were driven by housing reasons?
A: 42%
Q: What are the top 5 states with the largest net migration, excluding the South?
A: Tennessee, Arizona, Alabama, Oklahoma, and Ohio.
Q: What is the reason for the decline in population in California?
A: The report does not specify, but it’s likely due to a combination of factors, including high cost of living, housing prices, and job opportunities.
Q: What are the 10 states that saw their populations fall in 2023?
A: California, Hawaii, Illinois, Louisiana, New York, Oregon, Pennsylvania, West Virginia, and possibly others.
